Samsung Clones Apple's Passbook

One of the more forward thinking additions to Apple’s iOS has been the company’s Passbook app, which allows consumers to have their coupons, boarding passes, event tickets and store cards and some credit card functionality all in one place on an iPhone.

In the latest in the ongoing duel between Apple (NASDAQ:AAPL) and Samsung, the South Korean multinational has announced Samsung Wallet, a product that offers users the ability to collect coupons, membership cards, tickets, and boarding passes from partners' applications and store them in one place on a Samsung. Sound familiar?
Partners honoring the new Samsung Android all include Walgreens, Belly, Major League Baseball, Expedia, Booking.com, Hotels.com, and Lufthansa airlines were announced at the company’s Developer Day at the Mobile World Congress in Barcelona, Spain, being held this week.

Now, Apple’s Passbook concept is just another step toward a future where all credit/debit cards, travel tickets, coupons, hotel reservations and everything else requiring a ragged slip of paper or plastic card in your pockets is contained in the tiny devices we use for phone calls and surfing the web. Cloning this type of product is a no-brainer and more such offerings are likely on the way.

What makes Samsung’s move interesting is that the app is only available through Samsung devices, powered by Android of course. Not only has Samsung unveiled an offering akin to Apple’s Passbook, it is the only Android device that offers the application. If you like Android and want the virtual wallet-type services that Passbook offers, you will probably buy a Samsung product.

This dynamic in the mobile virtual wallet market won’t last forever. As you read this the proliferation is under way. Mastercard announced this week its development of MasterPass, an online and cashier payment app. Google (NASDAQ:GOOG), of course, has its Wallet. There’s even a company called Virtual Piggy, another payment app that focuses on allowing children to safely make purchases online.

Is Samsung’s virtual Wallet app a big deal? Yes. You know what else is a big deal? All of the other device and payment companies emerging with their own virtual wallet products, which should happen in about 5 minutes.